PS5 becomes Sony’s fastest console with sales of 10 million | Business news

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The PlayStation 5 is the fastest-selling game console from Sony, said the Japanese electronics giant.

Sony said it had sold more than 10 million units since the model was launched on November 12 through July 18, despite the impact of a global chip shortage.

That means it has overtaken its predecessor, the PS4, which sold more than 100 million units after its launch in 2013, by a few weeks to reach this milestone.

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Sony’s PlayStation 5 competes with Microsoft’s Xbox

The PS5 offers better graphics and faster loading times than its predecessor.

Jim Ryan, CEO of Sony Interactive Entertainment, said, “Although PS5 has reached more homes faster than any of our previous consoles, we still have a lot of work to do as demand for PS5 continues to outpace supply.

“I want gamers to know that while we continue to face unique challenges that affect our industry and many others, improving inventory levels remains a top priority.”

The console was boosted by the popularity of exclusive games like Marvel’s Spider-Man: Miles Morales, which sold more than 6.5 million times.

Mr Ryan told Reuters News Agency that Sony sees that demand for the PS5 continues, even if the relaxation of lockdown restrictions means consumers are less likely to be forced to stay at home.

He acknowledged that the chip shortage was “a challenge we all face”.

Sony PlayStation 5
Photo courtesy of @AussieHarj's Twitter feed of people queuing for the new Sony PS5 outside of GAME in Westfield, Stratford.
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Demand for the console has exceeded supply

The announcement comes after that Tech giant Apple announced that the impact of the scarcity on production was less than expected in the final quarter – but projected it would worsen over the current July-September period.

Meanwhile, Microsoft, whose Xbox competes with Sony’s PlayStation, announced that console sales rose 172% in the three months to the end of June after the latest model was launched, despite content and service sales for it, compared to a record period per year have dropped before.



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